CIBC Announces Election of Mary Lou Maher to CIBC’s Board of Directors

(Bloomberg) — In an era of prosperity for investment banks, Credit Suisse Group AG is careening from one crisis to another and then another — this time, with a $4.7 billion writedown tied to billionaire investor Bill Hwangs trading blowout.The staggering hit — the largest yet linked to market-shaking losses run up by Hwangs Archegos Capital Management — prompted sweeping management changes at the Swiss bank Tuesday and cast fresh doubt on its checkered record of managing risks. It caps a catalog…

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